AP Assembly passes Tax Amendment Bills
Amaravati: The State Assembly on Thursday passed by voice vote the Andhra Pradesh Value Added Tax (Amendment) Bill, 2021 and the Andhra Pradesh Goods and Services Tax (Amendment) Bill, 2021.
Moving the bill, Finance Minister Buggana Rajendranath Reddy said under the Andhra Pradesh Value Added Tax Act, 2005, liquor for human consumption is taxed presently at the rates ranging from 130% to 190% and added that the Telangana has reduced the VAT rate to a flat 70% on all categories of liquor for human consumption during 2016.
The Minister said in order to bring about parity in levy of VAT with the neighbouring States, it has been decided to rationalise the rates of VAT on various categories of liquor for human consumption in the State and hence brought in Andhra Pradesh Value Added Tax (Amendment) Bill, 2021 to reduce the VAT rates on alcoholic beverages.
However, the reduction is not being transferred to the consumer as the Excise department had recently issued a GO saying that MRP of liquor will remain unchanged.
Though the VAT slabs have been reduced to bring parity with other States, the government decided to levy a special margin which was equivalent to the VAT that has been reduced.
Referring to the Andhra Pradesh Goods and Services Tax (Amendment) Bill, 2021, the Finance Minister said Goods and Services Tax provides for levy and collection of taxes on intra-state supply of goods and services by the State Government and the amendments are being made for checking tax evasion or to reduce the compliance burden of the taxpayers.
Next Story :
-
WATCH | Six Arrested For Vandalism At Allu Arjun’s House Granted Bail
![WATCH | Six Arrested For Vandalism At Allu Arjun’s House Granted Bail]()
Hyderabad, Dec 23 (Maxim News): The court has granted bail to six individuals accused of the attack on actor Allu Arjun’s residence. The incident, which took place earlier this week, involved protestors from the Osmania University Joint Action Committee (OU JAC) who allegedly hurled stones at the actor’s house, causing property damage. The judge, after receiving the case,…
-
Born In A Remote Area, PV Is A Great Leader Who Rose To The Level Of PM: Kishan
![Born In A Remote Area, PV Is A Great Leader Who Rose To The Level Of PM: Kishan]()
Hyderabad, Dec 23 (Maxim News): Union Minister for Coal and Mines, G.Kishan Reddy has praised Bharat Ratna and former Prime Minister PV Narasimha Rao for his outstanding services to the country.
-
ED Notices Likely To KTR Today
![ED Notices Likely To KTR Today]()
Hyderabad, Dec 23 (Maxim News): The Enforcement Directorate (ED) is expected to issue notices today to K.Tarak Rama Rao (KTR), Working President of the BRS in connection with a case related to the Formula-E car racing event.
-
CV Anand Apologizes For Remarks Against National Media
![CV Anand Apologizes For Remarks Against National Media]()
Hyderabad, Dec 23 (Maxim News): Hyderabad Police Commissioner C.V. Anand has apologized. He posted a statement withdrawing his comments to the national media. He said that he lost patience when the national media asked questions about the Sandhya Theater incident.
-
Trade License Fee Should Be Collected By December 31: Commissioner Ilambarthi
![Trade License Fee Should Be Collected By December 31: Commissioner Ilambarthi]()
Hyderabad, Dec 23 (Maxim News): According to the property tax database in the Greater Hyderabad area, a total of 3,17,033 houses are in the non-residential area. However, only 1,09,702 people in the non-residential area have taken trade licenses and paid the fee as of December 19. He said that the remaining non-residential PTI numbers have not…
Now you can get latest stories from Indtoday on Telegram everyday. Click the link to subscribe. Click to follow Indtoday Facebook page and Twitter and on Instagram. For all the latest Hyderabad News updates
